India’s power demand to grow 6.0-6.5% over next five years, driven by EVs, data centres and green hydrogen: ICRA
Electric vehicles, data centres and green hydrogen are expected to contribute to 20-25% of the incremental power demand over the next five-year period from FY2026 to FY2030.
Adani Green Energy refinances $1.06 billion construction facility
Adani Green Energy Ltd (AGEL), India’s largest renewable energy company, announced that it has refinanced its maiden construction facility with outstanding of $1.06 billion taken in 2021 to develop India’s largest solar-wind hybrid renewable cluster in Rajasthan.
Only 7% of Indian companies with net-zero targets hail from high-emission sectors: ICRA ESG Ratings
The ICRA report states that the 127 companies committing to net zero target through science-based target initiative (SBTi) are primarily from non-hard-to-abate sectors like textiles, software, and pharmaceuticals.
India expected to hit 132 GW of installed solar capacity by March 2026
ICRA expects India to add 22 GW of new solar power generation capacity in FY 2025 and 27.5 GW in FY 2026, taking its cumulative installed PV capacity to 131.5 GW from 82 GW as of March 31, 2024.
Renewables share in India’s power generation mix to reach 35% by 2030: ICRA
Ratings agency ICRA projects the share of renewables (including hydro) in India’s power generation mix to rise to 35% by FY 2029-30, from 21% in FY 2024.
ICRA upgrades Tata Power to AA+ with Stable outlook
The ratings upgrade takes into account Tata Power’s healthy operating and financial performance driven by the diversified business profile, superior operating efficiencies, and long-term offtake agreements for the generating portfolio.
Stepping up critical mineral production remains crucial for India’s energy security: ICRA
Advancement in mineral processing and beneficiation technology remains critical for commercialisation of domestic critical mineral resources.
Declining battery costs to boost adoption of battery energy storage projects: ICRA
Battery prices reached an all-time low in 2023 led by the moderation in raw material prices amid the increase in production across the value chain
Electric mobility promotion scheme to keep the electrification pace intact: ICRA
Rating agency ICRA expects the penetration levels of electric two-wheelers and electric three-wheelers (excluding e-rickshaws) to reach 6-8% and 14-16%, respectively, by FY 2025.
ALMM mandate reimposed: What it means
The ALMM mandate reimposed from April 1, 2024 provides relief for solar developers with advanced progress in development and with expected commissioning post-March 31, 2024. It also allows exemption for open access-based and captive solar projects, enabling these projects to source modules from the most cost-competitive sources.
